📈 Ethereum ($ETH) to USD 10,000? The charts ignite the debate! 🚀
The recent analysis by Cointelegraph on Ethereum ($ETH) and its potential climb to USD 10,000 has captured everyone's attention. They argue that historical fractals, a possible start of "altseason," and the strength of ETH against rivals like SOL and XRP could drive this monumental ascent from its current rally above USD 2,600 (as of May 11, according to the article).
But, with our feet on the ground in Latin America: what does this mean for us? In Argentina, where the year-on-year inflation rate in 2023 reached a challenging 211.4% (Source: INDEC), every investment is scrutinized. Similarly, in Venezuela, the ongoing search for value preservation against the devaluation of the bolívar makes any volatile asset a high-risk decision, even though cryptocurrencies are seen as an alternative. Meanwhile, in Mexico, the use of stablecoins for receiving remittances remains a strong trend, prioritizing stability. This potential ETH rally "looks promising for the long run," but it demands caution. A technical rebound is a signal, but is the risk worth it in our economies?
Not to scare you, but it's crucial to analyze the complete picture. Are we facing a big rise or a correction that catches us off guard?
DYOR: This is not financial advice.
How do you see this scenario for ETH from your country? Would you dare to invest or would you prefer to observe? Comment below! 👇